30 December, 2020 – Hamilton, Bermuda
Northern Ocean Ltd. (“NOL”) announces agreement with the lenders in its term loan facility to extend the amendment and waivers for certain covenants until February 26, 2021. The amendment and waivers allow the Company to stay in compliance with its loan requirements while discussions continue regarding a potential settlement of outstanding project balances with Seadrill.
Additional information about the Company can be found at: www.northernocean.no
Forward Looking Statements
Matters discussed in this release may contain certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates, sometimes identified by the words “believes”, “expects”, “intends”, “plans”, “estimates” and similar expressions. The forward-looking statements contained in this release, including assumptions, opinions and views of the Company or cited from third-party sources, are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. The Company does not provide any assurance that that the assumptions underlying such forward-looking statements are free from errors, nor does the Company accept any responsibility for the future accuracy of the opinions expressed in the presentation or the actual occurrence of the forecasted developments. No obligations are assumed to update any forward-looking statements or to conform to these forward-looking statements to actual results.